Market Overview:
The Global Dairy Blends Market size is expected to grow from USD 3.40 billion in 2022 to USD 4.91 billion by 2030, at a CAGR of 4.7% during the forecast period (2023-2030).
Dairy blends are dairy mixtures which are made from concentrated cream or butter and are mixed with vegetable oils. Dairy blends provide additional nutrition and an absolute taste enhancement to the products. The high cost of traditional dairy products, combined with the significant health benefits of dairy blends, has been cushioning the dairy blends industry globally. Varied taste and flavors cater the growing demand of dairy blends market. Moreover, dairy blends can be utilized in various forms in industries.
Top Key Players for Dairy Blends Market:
Anchor (Auckland, New Zealand), Abbott Nutrition (US), Advanced Food Products (PA), Agri- Mark Inc. (US), Agropur Ingredients (US), All American Foods, Inc. (US), Friesland Campina (Netherlands), Cargill (US), Bakels Edible Oils (New Zealand), Lactopur (Canada), Pacificblends (Canada), Galloway Company (US), Dohler (Germany), Kerry Foods (Ireland), Fonterra Co-operative group (New Zealand), and other major players.
Market Dynamics and Factors for Dairy Blends Market:
Drivers:
Increasing Awareness and A Healthy Substitute
Owing to the changes in social and economic patterns and the rapid increase in awareness about healthy foods, functional dairy blends are widely utilized in many food processing units. The demand for dairy blend products is growing faster as consumers are becoming aware of the health benefits associated with consumption such as reduced risk of diabetes, improvement in immunity, and others. Dairy blends are becoming popular among working-class people, children as well as bachelors due to the enhanced taste and a healthy substitute to the rich in oil and fat products as well as milk powders and traditional products.
Opportunities:
Rising Urbanization and Unique Packaging
Rising urbanization and hectic lifestyle have brought a considerable impact on the dairy blends market growth in recent years. A busier lifestyle has made it more difficult for both women and men to cook food at home, and even worsens in the case of working moms who have to manage both home and kids. In such cases, dairy blends have emerged as a perfect alternative to traditional baby foods such as rice or porridge. They cut down the time for cooking food and possess essential nutrients required to promote baby health. Furthermore, the market players in the dairy blends industry are upbringing innovations with different flavors, aggressive marketing strategies and attractive packagings that garners the market growth of dairy blends and ultimately provides an opportunity for rapid development over the projected period.
Segmentation Analysis of the Dairy Blends Market:
By Type, Dairy, as a functional ingredient is estimated to dominate the dairy, blends market over the projected period. Milk and dairy products such as yogurt and cheese are essential for delivering functional ingredients. Functional foods or ingredients are essential to enhance human health and dairy blends play a vital role in supplying functional ingredients.
By Application, the Bakery segment is expected to hold the largest share in the upcoming years. An increase in awareness related to health benefits is propelling the demand for low-calorie bakery products among consumers. This is estimated to boost the market for dairy blends as functional ingredients in this particular segment. Dairy blends are further a cost-effective alternative to butter, with comparatively low- fat content, and do not have any negative impact on the product taste like margarine does. Hence, their demand in the bakery as a replacement for these two ingredients is rapidly increasing.
Regional Analysis of the Dairy Blends Market:
Asia-Pacific is projected to dominate the dairy blends market in thee forecasted period. Rapid increase in disposable income as well as growth in demand from developing nations such as India, Japan, China and South Korea and the presence of a large-scale dairy sector in Australia & New Zealand are most likely to drive the market growth in the Asia Pacific region. Rising concerns regarding health and rapid increase in urbanization is propelling the market growth in this region.
Key Industry Development:
- In October 2021, Arla Foods Ingredients launched Lacprodan premium ALPHA-10, a dry-blend protein ingredient that can be beneficial for infant formula manufacturers. This blend also possesses whey protein from human milk consisting of essential amino acids.
- In February 2021, Cargill launched The Chompery, a novel brand of butcher-quality dog treats. Established to attend to the most recent consumer trends, The Chompery dog treats are all organic, single-ingredient and both sourced and manufactured in the U.S. With an extensive portfolio of high-quality treats, The Chompery provides products for diversified usage occasions and intentions, inclusive of long-lasting entertainment, rewards and coaching.
